Boeing Co.’s attraction to Embraer SA fits one of the goals Chief Executive Dennis Muilenburg has set for the aerospace giant: creating a level playing field in the commercial jetliner business.

Boeing this week confirmed a Wall Street Journal report that it was in talks with Embraer.  But factors such as potential VETO from the Brazilian government could thwart a tie up. Analysts said that the chances of a full takeover were slim and that an expansion of the companies’ existing joint venture was a more likely outcome.